The Directorate General of Foreign Trade (DGFT) has moved silver and unstudded jewellery from the ‘Free’ to the ‘Restricted’ import category, effective immediately and valid until March 31, 2026. This means importers must now obtain a government licence to bring these items into India. The restriction applies to articles of jewellery, parts of precious metal, and other unstudded silver products.
Surge in Imports from Thailand Raises Red Flags
The government’s decision follows a significant surge in silver imports, particularly from Thailand — a country that does not produce silver. Officials suspect this increase is a way to circumvent customs duties under the Asean-India Trade in Goods Agreement (AITIGA). Nearly 98% of such imports originated from Thailand, with shipments spiking to around 40 metric tonnes in a short period.
Exporters of Non-Basmati Rice Face New Rules
In a separate move, the DGFT has tightened regulations for non-basmati rice exports. Exporters must now register their contracts with the Agricultural and Processed Food Products Export Development Authority (APEDA) before shipping. This step aims to improve monitoring and streamline trade flows amid rising global demand for Indian rice.
India’s Rice Exports Continue to Grow
Despite the new policy condition, India’s rice sector remains strong. Exports of non-basmati rice rose by 6.4% year-on-year to $4.7 billion during the April-August period of FY26. The new contract registration requirement is expected to enhance traceability, compliance, and overall export quality standards.
